EnerSys (ENS) Stock Moves -0.85%: What You Should Know
EnerSys (ENS) ended the recent trading session at $89.06, demonstrating a -0.85% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.26%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Shares of the maker of industrial batteries have depreciated by 6.01% over the course of the past month, underperforming the Industrial Products sector's loss of 5.31% and the S&P 500's loss of 3.67%.
Market participants will be closely following the financial results of EnerSys in its upcoming release. The company plans to announce its earnings on November 8, 2023. On that day, EnerSys is projected to report earnings of $1.81 per share, which would represent year-over-year growth of 63.06%. In the meantime, our current consensus estimate forecasts the revenue to be $911.9 million, indicating a 1.39% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.78 per share and a revenue of $3.76 billion, signifying shifts of +45.69% and +1.45%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for EnerSys. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. EnerSys is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, EnerSys is holding a Forward P/E ratio of 11.55. This represents a discount compared to its industry's average Forward P/E of 19.41.
We can additionally observe that ENS currently boasts a PEG ratio of 0.82. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Electronics industry was having an average PEG ratio of 1.97.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enersys (ENS) : Free Stock Analysis Report
